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                                                                      EXHIBIT 24

                         THE ELDER-BEERMAN STORES CORP.
                           ANNUAL REPORT ON FORM 10-K
                                POWER OF ATTORNEY
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         KNOW ALL MEN BY THESE PRESENTS, that each of the undersigned directors
and/or officers of The Elder-Beerman Stores Corp., an Ohio corporation, hereby
constitutes and appoints each of Scott J. Davido and Steven D. Lipton as the
true and lawful attorney or attorney-in-fact, with full power of substitution
and revocation, for each of the undersigned and in the name, place and stead of
each of the undersigned, to sign on behalf of each of the undersigned an Annual
Report on Form 10-K for the fiscal year ended January 31, 1998 pursuant to the
Securities Exchange Act of 1934, as amended, and to sign any amendments to such
Annual Report, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission,
granting to each attorney or attorney-in-fact full power and authority to do so
and to perform any act requisite and necessary to be done as fully to all
intents and purposes as the undersigned might or could do in person, hereby
ratifying and confirming all that each attorney or attorney-in-fact or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
This Power of Attorney may be executed in multiple counterparts, each of which
shall be deemed an original with respect to the person executing it.

         IN WITNESS WHEREOF, the undersigned have subscribed these presents as
of the 22nd day of April, 1998.



<TABLE>
<S>                                                       <C>
          /s/ Frederick J. Mershad                                         /s/ John A. Muskovich                     
--------------------------------------------                   --------------------------------------------          
            Frederick J. Mershad                                             John A. Muskovich                       
Chairman of the Board of Directors and Chief              President, Chief Operating Officer and Chief Financial     
              Executive Officer                                              Officer; Director                       
        (Principal Executive Officer)                                (Principal Financial and Officer)               
                                                                                                                     
                                                                                                                     
            /s/ Steven D. Lipton                                         /s/ Thomas J. Noonan, Jr.                   
--------------------------------------------                   --------------------------------------------          
              Steven D. Lipton                                             Thomas J. Noonan, Jr.                     
      Senior Vice President, Controller                                          Director                            
        (Principal Accounting Officer)                                                                               
                                                                                                                     
                                                                                                                     
             /s/ Bernard Olsoff                                           /s/ Laura H. Pomerantz                     
--------------------------------------------                   --------------------------------------------          
               Bernard Olsoff                                               Laura H. Pomerantz                       
                  Director                                                       Director                            
                                                                                                                     
                                                                                                                     
            /s/ Stewart M. Kasen                                            /s/ John J. Wiesner                      
--------------------------------------------                   --------------------------------------------          
              Stewart M. Kasen                                                John J. Wiesner                        
                  Director                                                       Director                            
                                                                                                                     
                                                                                                                     
             /s/ Steven C. Mason                                             /s/ Jack A. Staph                       
--------------------------------------------                   --------------------------------------------          
               Steven C. Mason                                                 Jack A. Staph                         
                  Director                                                       Director                            
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